CoreWeave (NASDAQ:CRWV) said it has expanded an agreement with OpenAI by up to $6.5B to power the training of the AI startup’s most advanced next-generation models through its infrastructure.
Shares of CoreWeave dipped about 3% premarket on Thursday.
In March 2025, CoreWeave announced an initial agreement with OpenAI with a contract value of up to $11.9B, followed by an expanded agreement worth up to $4B in May.
The new agreement brings the total contract value with Microsoft (NASDAQ:MSFT)-backed OpenAI up to about $22.4B.
“CoreWeave has become an important partner in OpenAI’s broader infrastructure platform,” said Peter Hoeschele, vice president of Infrastructure and Industrial Compute.
CoreWeave is backed by Nvidia (NVDA).
Earlier this week, Nvidia (NVDA) said it intends to invest up to $100B in OpenAI progressively to build and deploy at least 10 gigawatts of AI data centers with Nvidia systems. The companies entered a strategic partnership to deploy at least 10 gigawatts of Nvidia systems — representing millions of GPUs — for OpenAI’s next-generation AI infrastructure to train and run its next generation of models.